Patten & Patten Inc. TN Increases Holdings in Digital Realty Trust, Inc. $DLR

Patten & Patten Inc. TN raised its stake in shares of Digital Realty Trust, Inc. (NYSE:DLR) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,760 shares of the real estate investment trust’s stock after buying an additional 1,020 shares during the period. Patten & Patten Inc. TN’s holdings in Digital Realty Trust were worth $5,014,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DLR. Bison Wealth LLC grew its position in shares of Digital Realty Trust by 17.2% during the 4th quarter. Bison Wealth LLC now owns 2,653 shares of the real estate investment trust’s stock valued at $471,000 after acquiring an additional 390 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Digital Realty Trust by 22.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 5,921 shares of the real estate investment trust’s stock worth $848,000 after buying an additional 1,067 shares during the period. Sagespring Wealth Partners LLC boosted its holdings in Digital Realty Trust by 6.2% in the 1st quarter. Sagespring Wealth Partners LLC now owns 2,066 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 120 shares during the period. QRG Capital Management Inc. boosted its holdings in Digital Realty Trust by 4.3% in the 1st quarter. QRG Capital Management Inc. now owns 39,732 shares of the real estate investment trust’s stock worth $5,693,000 after buying an additional 1,631 shares during the period. Finally, Grove Bank & Trust boosted its holdings in shares of Digital Realty Trust by 306.7% during the 1st quarter. Grove Bank & Trust now owns 305 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

Insider Buying and Selling at Digital Realty Trust

In related news, CEO Andrew Power sold 53,269 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $175.16, for a total transaction of $9,330,598.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DLR has been the subject of several research reports. Guggenheim started coverage on shares of Digital Realty Trust in a report on Wednesday, July 9th. They set a “neutral” rating for the company. Wells Fargo & Company raised their target price on shares of Digital Realty Trust from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Barclays raised their target price on shares of Digital Realty Trust from $140.00 to $141.00 and gave the company an “underweight” rating in a research note on Wednesday, August 20th. Raymond James Financial increased their price objective on Digital Realty Trust from $190.00 to $205.00 and gave the company a “strong-buy” rating in a report on Friday, July 25th. Finally, Citigroup restated a “buy” rating on shares of Digital Realty Trust in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.05.

Digital Realty Trust Trading Up 2.0%

Shares of Digital Realty Trust stock opened at $175.29 on Thursday. The firm has a 50-day simple moving average of $169.90 and a two-hundred day simple moving average of $167.27. The company has a market cap of $59.78 billion, a P/E ratio of 46.01, a price-to-earnings-growth ratio of 4.84 and a beta of 0.96. Digital Realty Trust, Inc. has a fifty-two week low of $129.95 and a fifty-two week high of $198.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.22 and a current ratio of 2.22.

Digital Realty Trust (NYSE:DLR) last issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.13. Digital Realty Trust had a net margin of 23.98% and a return on equity of 6.46%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. As a group, equities analysts predict that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, September 15th. Digital Realty Trust’s dividend payout ratio is 128.08%.

Digital Realty Trust Profile

Digital Realty Trust, Inc operates as a real estate investment trust, which engages in the provision of data center, colocation and interconnection solutions. It serves the following industries: artificial intelligence (AI), networks, cloud, digital media, mobile, financial services, healthcare, and gaming.